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A good many startups I know have been “successful” over a couple of years in overcoming the challenges of starting the business, including incorporation, services development, funding, and setting up operations. Yet they still haven’t achieved a healthy growing profit, even though this was one of t Read More

Fortune 500 companies such as IBM, Proctor and Gamble and others derive more than half of their revenues from international activities. We have heard that there are significant tax advantages in doing business offshore. All this sounds very enticing and many budding entrepreneurs can’t wait to fly Read More

Every startup founder knows implicitly that startup success is a long hard road. Yet we always dream that we are the exception to the rule. So once in a while it’s good to look at some facts to temper our imagination.

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In finance, a bubble is too much money chasing assets, greater asset production and a herd mentality. In startup business plans, a bubble is too many entrepreneurs and too many investors chasing the latest “next big thing,” like Google search engine, Facebook social network, or Amazon e-commerce si Read More

Entrepreneurs often get the advice from their lawyers and friends to always get a Non-Disclosure Agreements (NDA or CDA) signed before disclosing anything about their new venture. Most investors and startup advisors I know hate them, and refuse to sign them. Who is right?

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Many entrepreneurs I know feel guilty about not quitting their day job when initiating their startup, worrying about not giving their all to an employer, juggling the multiple roles, or even a legal conflict of interest. I’ll try to offer some guidelines to address these issues, but I generally rec Read More

Many entrepreneurs actually refuse to do financial projections beyond the first year, insisting that no one can predict the future. They need to realize that investors ask for projections, not merely as predictions, but more as commitments from the founder and his team. If you are not willing to co Read More

Every time I challenge a business plan with little or no budget for marketing, I get the answer that they will be using “viral” marketing, which costs nothing. The founder explains that the product is so “buzz-worthy” that usage will spread rapidly through word-of-mouth only, meaning people loving Read More

We all intuitively believe in maintaining personal and business contacts, but most of us don’t do well in this area. It takes real time and hard work to maintain contacts. Social networking can help, but a large list of online friends and followers is no substitute for a smaller list of personal an Read More

I’ve noticed a great tendency among startup founders to ignore the essentials of business accounting in the early stages of their startup. Just because you are not profitable yet, doesn’t mean you can skip the record keeping.

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